Description
CoinDCX and Delta Exchange
The ED searched three premises in Bengaluru on 4 and 5 November under FEMA: Neblio Technologies (CoinDCX) and Excelium Technologies (Delta Exchange India). The ED's own word is "searches"; CoinDCX calls it a "routine enquiry". Saying "raid" in the title is fine, since that is how every Indian outlet reported it, but say "search" once on camera so you are covered.
The allegation: rupee deposits converted to USDT and sent to Binance, KuCoin, Gate.io and Bybit for trading, bypassing forex rules, "thousands of crores" in transactions, hundreds of crores paid in USDT fees. For spot, the ED says USDT went abroad through an account of a Costa Rica company it calls a "paper entity". Delta's futures, options and tokenised stocks allegedly ran through CoinDCX to platforms like Hyperliquid. The ED is also examining SEBI, SCRA and RBI rules.
No arrests, no seizures and no asset freezes have been reported. Both companies say trading, deposits and withdrawals are normal and user funds are safe in Indian banks. These are allegations, not findings, so use "ED ka aarop hai", not "CoinDCX ne kiya".
There is a separate CryptoTimes headline about a $16 million CoinDCX wallet loss this week. I could not open that page, so verify it before you mention it.
MEXC
It is not a full ban. FinCEN (US Treasury) ordered US financial institutions not to move funds, including crypto, to or from MEXC Global and six related entities. It takes effect 30 days after Federal Register publication, which had not happened as of Friday.
The basis: at least $16 billion in illicit flows between May 2021 and May 2026, about $1.5 billion tied to Russian sanctions evasion, about $1 billion with Iranian exchanges and $22 million linked to Iran's central bank and IRGC, plus dealings with Garantex and its successor Grinex as recently as June 2026. These are FinCEN's allegations.
For Indian users: the order does not bar non-US persons from using MEXC and does not freeze customer balances. The real risk is reputational and liquidity, since USD on-ramps for the exchange shrink. Practical advice fits here: anyone keeping large balances on MEXC should move to self-custody, same custody ladder as Day 10.
Is weekend do badi khabrein. ED ne Bengaluru mein CoinDCX aur Delta Exchange ke 3 offices par FEMA ke tehat search kiya: aarop hai ki rupees ko USDT bana kar Binance, Bybit, KuCoin jaise foreign exchanges par bheja gaya, hazaron crore ke transactions. Dono exchanges kehte hain user funds safe hain aur withdrawal chalu hai. Udhar US Treasury ne MEXC ko US financial system se kaat diya, $16 billion ke illicit flows ka aarop. Is video mein dono cases ka poora sach, Indian users ko kya karna chahiye, Bitcoin ka weekend analysis aur altcoins mein abhi kya karna hai.
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